Supply and Demand: NZD/CAD Long
Re-entry Trade
Low risk applied
-Zone- Daily trend break made a supply zone
-Stacked with the weekly zone
-Limit order set at the valid 4hr Star Pattern
Why low risk?
-Aggressive entry
-Price still showing clear down trend at the 4hr,
-Respecting 50 EMA
Why entered?
-All confirmations aligned
-Valid zone, valid pattern, fresh zone.
-At the Daily Chart, price has been decelerating as it is approaching the zone.
Low risk applied
-Zone- Daily trend break made a supply zone
-Stacked with the weekly zone
-Limit order set at the valid 4hr Star Pattern
Why low risk?
-Aggressive entry
-Price still showing clear down trend at the 4hr,
-Respecting 50 EMA
Why entered?
-All confirmations aligned
-Valid zone, valid pattern, fresh zone.
-At the Daily Chart, price has been decelerating as it is approaching the zone.
Trade active
Trade closed manually
Price is still a few pips away before hitting the TP, but looking how the price is slowing its momentum and it's reaching the previous significant high from the daily and 4hr chart, I decided to close the trade with 1:2.8 RTrade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.